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The goal of China and the U.S. for the negotiations is to end the business war and cancel all the additional taxes

Gao Feng the Ministry of Commerce spokesman said that China asserted the U.S. must remove taxes in order for the two countries to meet a final deal on trade. According, to the CNBC explanation Gao said in Mandarin in a weekly discussion that China’s reference, assumption, and focus of China U.S. business negotiation have never changed.

The main goal for the negotiations is to end the business war and cancel all the additional taxes. The cancellation of additional taxes and negotiation of business war will be good for both China and the U.S. and also for the entire world. The two economic giants have been involved in a trade conflict for more than a year.

In Washington, D.C. the present round of business talks between the world’s two largest recessions have ended late during the last week. After the meeting, the U.S. said that they would append the tax increase on Chinese goods that were presumed to take issue on Tuesday.

U.S. President Donald Trump said China agreed to pass through a deal of big aspects which will be written over the next three weeks. Trump also said the deal would meet rational property and economic services and also Chinese purchases of about $40 billion to $50 billion on the U.S. agricultural products.

On Thursday, it was not confirmed by Gao about the exact amount but maintained that the Chinese companies would increase their investment over U.S. agricultural products, according to Chinese market needs and also over the market-based principles.

Gao did not approve about when phase one deal would be signed or whether the leaders of both countries would plan for a meeting. It was noted by Gao that both the teams remained in communication with each other.

James Elwood
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Managing Editor At Global Industry Updates

With a Bachelor of Business Administration Degree, James helps us cover the news and the latest events, mergers, amalgamations, and stocks in the market. Making use of his talent and understanding of the corporate world, James writes effectively and fluently making the numbers and the data easy to understand.

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